City entered the season attempting to complete a historic three-peat of the Premier League title.
That doesn't mean City's season is over, far from it.
The Sky Blues are still alive in the FA Cup, and more importantly, a meeting with Real Madrid in the Champions League Round of 16 awaits at the Santiago Bernabeu on February 26.
It is a competition City have never won and Guardiola remains determined to end the drought.
And should he do so, former Newcastle United captain Clark says the achievement would be the icing on the cake for Guardiola's stint at the Etihad.
"Pep will want to make sure it's an opportunity for them to win it. I think if he was to take the Champions League to the Etihad it would be a fantastic achievement in his career, it would be the icing on the cake really.
"He's been unbelievable so far for that football club. All that's happened this year is coming up against a phenomenal team in Liverpool, who are just getting stronger and stronger, and that's credit to Jurgen Klopp and his players.
"But I think Pep will be looking to the Champions League as the one that he can try and win. I think if you offered him that over the Premier League this season, I'm certain he would've accepted that, and all the Manchester City fans would've accepted that at the start of the season as well."
Guardiola remains under contract with City until the end of next season. But that hasn't stopped reports circulating that the 49-year-old could depart the club in the summer.
However, Clark thinks the constant challenge of English football will keep Guardiola in Britain.
"Will he leave Manchester City this summer? Not a chance. He's been absolutely superb since coming to England.
"I think he's here for a long time, no matter what happens in the Champions League, win or lose. I think he is definitely enjoying the challenge of English football."